3rd Apr 2014 08:20
LONDON (Alliance News) - Wincanton PLC said Thursday that it trading in line with expectations, boosted in part by its Contract Logistics business and the recovery in the UK construction sector.
The supply chain services provider said the firm's Specialist Businesses, Pullman Fleet Services and Wincanton Records Management divisions continue to trade in line with expectations whilst volumes in its Containers business remain broadly flat.
Wincanton said it has seen solid levels of activity from its Contract Logistics business and that volumes in its Construction division have reflected the recovery in the UK construction sector.
The firm also clarified on its pension scheme. In October last year the company proposed to close its Wincanton Defined Benefit pension scheme to future accrual. The consultation period with affected employees and their recognised representatives has now concluded, said the firm in its trading update, closing the Scheme to all future accrual.
The vast majority of the former active members of the Wincanton scheme, approximately 7.0% of its total workforce, selected to participate in the group's range of defined contribution pension arrangements going forward, said the company. Pension benefits built up to the date of closure will be preserved.
Shares in Wincanton were trading 1.,13% higher at 120.6 pence per share Thursday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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